The size of the worldwide narcolepsy drugs market is forecasted to rise at a CAGR of 9.9% between 2020 to 2025.
Narcolepsy symptoms include periods of excessive daytime sleepiness that last from seconds to minutes and can occur. Besides, a stressful lifestyle can cause the disease, which will drive the growth of this market. Also, an increase in alcohol consumption, tobacco, and coffee is expected to increase the risk of narcolepsy. Moreover, high disposable income and an increase in awareness about the benefits of narcolepsy drugs are anticipated to globally fuel market growth. As the cases rise, there is an increase in government initiatives about increasing awareness and finding the best cure for the disease.
Narcolepsy is a rare and under-diagnosed chronic condition; thus, there are many undiagnosed patients worldwide. The lack of awareness is a serious challenge, as patients are not aware of the disease. The availability of treatment also poses a serious challenge as the governments have not recognized the disease's seriousness. Thus, there is a lack of research for the treatment.
The rise in the prevalence of narcolepsy and Y-O-Y growth in obesity are majorly propelling the development of the global narcolepsy drugs market.
As per the Narcolepsy Network, nearly three million people are affected over the globe. Mainly in the USA, two in 1500 people are affected by narcolepsy. Narcolepsy disorder will affect the quality of a person's life. People suffering from narcolepsy will frequently enter into cataplexy, and REM sleep within every 15 minutes of falling asleep is the main factor. Mostly, narcolepsy patients and narcolepsy are having sleep apnea symptoms and can go through EDS (excessive daytime sleepiness) by raise in demand for narcolepsy treatment.
Moreover, the other significant factors that are boosting the global narcolepsy drug market are the rising awareness of narcolepsy and modifiable usage to treat patients with low effects with a comparison of traditional stimulants. Additionally, the adoption of appropriate treatment is also helping to prevent disease. The rise in numerous narcolepsy patients is a significant factor in the narcolepsy drug market.
High costs associated with the diagnosis, treatment, and narcolepsy drugs are majorly restraining market growth. However, sleeping disorder encompasses a wide range of diseases with significant individual health consequences, high economic expenditure to society, and disruption in treatment to smoothen functions in the narcolepsy drugs market.
Impact of COVID-19 on the global narcolepsy drugs market:
During the COVID-19 pandemic, the outbreak narcolepsy market faces many challenges as every market is also facing. Obesity and hypertension conditions were lying under this narcolepsy and spotted due to association with significant hospitalization and mortality risk of people who get infected. As per the researchers of narcolepsy, COVID-19 can migrate from the olfactory bulb by focusing on narcolepsy to the hypothalamus and also affects orexin neurons. In narcolepsy conditions, COVID-19 can also trigger an immune system of patients.
Market Size Available
2019 to 2025
2020 to 2025
By Type, Indication and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East and Africa
This market research report on the global narcolepsy drugs market has been segmented and sub-segmented based on the type, indication, and region.
Narcolepsy Drugs Market – By Type:
Based on the type, the sodium oxybate segment was the major revenue contributor by therapeutics type in 2019 and is anticipated to continue this trend during the forecast period. This segment is expected to show profitable growth during the forecast period. These drugs are highly effective in treating extreme daytime sleepiness and cataplexy. The increase in awareness about the disease and its cure will boost this sub-segment. More research is being done using this drug, and soon a breakthrough can be expected. The Sodium Oxybate/ gamma-hydroxybutyrate/ GHB segment is a highly effective treatment for day time extreme sleepiness and cataplexy. To treat cataplexy at doses, SSRIs (Selective serotonin reuptake inhibitors) are very useful in comparing the usage of treat depression. The segment mentioned above also has factors such as a high rate due to an increase in R&D activities for development.
Selective serotonin reuptake inhibitor has the second-highest market share and is expected to register the fastest growth during the forecast period. The Research and Development projects related to these drugs have increased a lot as market players are growing. They're mainly prescribed to treat depression, particularly persistent or severe cases, and are often used in combination with a talking therapy such as cognitive-behavioral therapy.
Central nervous system stimulants have the third-largest market share and are expected to register profitable growth. It is a type of drug that increases certain chemicals in the brain and increases alertness, attention, energy, and physical activity. It also increases blood pressure and heart rate. Due to increased awareness about its symptoms, the market will have a positive impact.
Tricyclic antidepressants have the fourth largest market share and are expected to grow during the forecast period correctly. They were introduced in the 1950s, and since then, many players have entered the market introducing new drugs.
Narcolepsy Drugs Market – By Indication:
Based on the indication, the daytime extreme sleepiness segment is estimated to cover the highest market share in the overall narcolepsy drug market during the forecast period. The rise in the prevalence of narcolepsy increased the risk of symptoms and other sleep disorders. Many people suffering from narcolepsy and other sleep disorders have a higher risk of this symptom, thus increasing the demand for narcolepsy drugs. The growth will further be boosted as more players are added to the narcolepsy drugs market.
Cataplexia is the second-largest market and is expected to have the highest growth rate in the market. People have become more aware of the disease because of its symptoms, like muscle mass loss. Various nations are doing more research, and countries like India and China may soon have a dedicated research center. Cataplexy is a sudden loss of muscle tone while a person is awake, leading to weakness and loss of voluntary muscle control. Cataplexy and daytime extreme sleepiness segments have a significant share due to the factors mentioned above.
Narcolepsy Drugs Market – By Region:
Regionally, North America holds a significant share in the global narcolepsy drugs market due to market leaders' presence and the presence of a stellar healthcare system. The primary reason behind this dominance is due to the high awareness among people due to government initiatives. The healthcare facilities available are also excellent in this region, which further boosts the market. The introduction of new private players in the market will drive the growth of this region. As expected, the North American region dominates the global narcolepsy drugs market with a large share with attributing factors due to high healthcare expenditure and a rise in the high substantial patient population. In 2018, the National Institute of Neurological Disorders estimating that nearly 250,000 people in the United States are living with narcolepsy. Due to the presence of developed economy countries such as Canada and the U.S. Moreover, most global players, like Mylan N.V., Ligand pharmaceuticals, Inc., are present in these developed economy countries. Due to market players' presence in American regions, boundaries playing as fuels of the narcolepsy market.
Europe accounted for the second-largest market share in 2019 and is expected to register promising growth from 2020 to 2025. The primary reason for this is due to advanced healthcare facilities and an increasing population in this region. Government initiatives about depression and its effects are also boosting this market. Some of the other attributing factors that are advantageous are owning funds available for research and activities, the increment of the vast patient population, and numerous obese people's growth. Moreover, the presence of developed economic countries such as Italy, Germany, and France under European regions. More than half of the population are obese, as per Eurostat.
The Asia Pacific is the fastest-growing region due to increasing disposable income, growing awareness, and increasing adoption rate. The Asia Pacific region is expected to have the fastest growth rate among other areas. The growing population and increase in disposable income have fueled the growth rate. Governments of countries such as India are promoting the awareness of the importance of narcolepsy, which is further expected to boost the narcolepsy drug market growth during the forecast period. Untapped markets in the developing countries are expected to offer remunerative opportunities for the market players in the near future. Furthermore, the presence of developed economic countries such as China and India are helping to develop facilities of the healthcare sector in the Asia-Pacific region. Additionally, the favorable government in the Asia-Pacific region is boosting the growth of the narcolepsy market.
As expected, the least market share of the global narcolepsy drugs market is contributing by the Middle East and Africa region. These MEA region is owning factors such as the presence of weak economies within the Middle East and Africa region, and stringent government policies in the African region is lagging the market growth share. Middle East region contributes the largest share due to huge healthcare expenditure of developed economy countries like Kuwait, Qatar, and Saudi Arabia.
NOTABLE COMPANIES IN THE MARKET:
Some of the key players dominating the Global Narcolepsy Drugs Market include Ligand Pharmaceuticals, Addrenex Pharmaceuticals, Shire Plc, Teva Pharmaceutical Industries Ltd., Arena Pharmaceuticals, Jazz Pharmaceuticals Plc, Bioprojet, and Graymark Healthcare, Inc.
MAJOR HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Central Nervous System Stimulants
5.1.3 Tricyclic Antidepressants
5.1.4 Sodium Oxybate
5.1.5 Selective Serotonin Reuptake Inhibitor
5.1.7 Y-o-Y Growth Analysis, By Type
5.1.8 Market Attractiveness Analysis, By Type
5.1.9 Market Share Analysis, By Type
5.2.2 Daytime Extreme Sleepiness
5.2.5 Y-o-Y Growth Analysis, By Indication
5.2.6 Market Attractiveness Analysis, By Indication
5.2.7 Market Share Analysis, By Indication
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Type
184.108.40.206 By Indication
6.1.4 Market Attractiveness Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Type
22.214.171.124 By Indication
6.1.5 Market Share Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Type
184.108.40.206 By Indication
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Ligand Pharmaceuticals
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Addrenex Pharmaceuticals
8.3 Shire Plc
8.4 Teva Pharmaceutical Industries Ltd.
8.5 Arena Pharmaceuticals
8.6 Jazz Pharmaceuticals Plc
8.8 Graymark Healthcare, Inc
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures